January 2012

Market Update – Quarter to 31 December 2012

Gemfields plc (AIM: GEM) presents an operational update for the three month period ending 31 December 2012. All figures are approximate, unaudited and, unless otherwise stated, the phrase “carats” includes both emerald and beryl.

Grant of Share Options to Executive Directors

Gemfields (AIM: GEM) announces the grant of stock options to the executive directors, Ian Timothy Harebottle and Devidas Shetty. At its meeting on 30 September 2011, the Board of Directors of Gemfields, resolved, with effect from 1 January 2012, to grant share options over 600,000 shares to Ian Timothy Harebottle and share options over 500,000 shares to Devidas Shetty at an exercise price of 19.95 pence per ordinary share (the “Grants”).